NewEdge Wealth LLC Decreases Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

NewEdge Wealth LLC cut its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMCFree Report) by 11.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,115 shares of the biotechnology company’s stock after selling 550 shares during the period. NewEdge Wealth LLC’s holdings in Blueprint Medicines were worth $207,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BPMC. Pinebridge Investments L.P. purchased a new stake in shares of Blueprint Medicines during the second quarter worth $46,000. Cutler Group LLC CA grew its position in Blueprint Medicines by 1,685.7% in the 3rd quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 944 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Blueprint Medicines in the 2nd quarter valued at approximately $69,000. Dark Forest Capital Management LP purchased a new stake in shares of Blueprint Medicines in the first quarter valued at approximately $63,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Blueprint Medicines during the 2nd quarter worth $90,000.

Analyst Ratings Changes

BPMC has been the subject of a number of research analyst reports. Stifel Nicolaus increased their target price on shares of Blueprint Medicines from $95.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Oppenheimer raised Blueprint Medicines from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a report on Friday, October 27th. Needham & Company LLC boosted their target price on Blueprint Medicines from $66.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Raymond James raised their price target on Blueprint Medicines from $85.00 to $100.00 and gave the company a “strong-buy” rating in a research report on Friday, December 22nd. Finally, Morgan Stanley boosted their price objective on shares of Blueprint Medicines from $59.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, October 27th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

Check Out Our Latest Stock Report on BPMC

Blueprint Medicines Stock Performance

NASDAQ:BPMC opened at $76.54 on Friday. Blueprint Medicines Co. has a 1-year low of $37.82 and a 1-year high of $94.00. The firm has a 50 day simple moving average of $82.75 and a 200-day simple moving average of $64.08. The firm has a market cap of $4.65 billion, a PE ratio of -8.33 and a beta of 0.61. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.09 and a quick ratio of 4.01.

Insider Buying and Selling at Blueprint Medicines

In related news, Director Jeffrey W. Albers sold 15,000 shares of the stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $67.51, for a total transaction of $1,012,650.00. Following the transaction, the director now directly owns 176,050 shares in the company, valued at $11,885,135.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jeffrey W. Albers sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $67.51, for a total transaction of $1,012,650.00. Following the completion of the transaction, the director now owns 176,050 shares of the company’s stock, valued at $11,885,135.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey W. Albers sold 5,000 shares of Blueprint Medicines stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $70.55, for a total transaction of $352,750.00. Following the completion of the transaction, the director now owns 176,050 shares in the company, valued at approximately $12,420,327.50. The disclosure for this sale can be found here. In the last three months, insiders sold 51,314 shares of company stock worth $3,895,268. Insiders own 3.88% of the company’s stock.

About Blueprint Medicines

(Free Report)

Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of indolent SM and other mast cell disorders; and Fisogatinib.

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Institutional Ownership by Quarter for Blueprint Medicines (NASDAQ:BPMC)

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